Cover Notes: Good COP, bad COP?
The world’s greatest challenge
The European (re)insurance industry identified climate change as an emerging risk over two decades ago and has since campaigned for more action to be taken to slow its advance and mitigate its many diverse impacts. As underwriters of risk and compensators of losses, (re)insurers are particularly aware of and sensitive to the threats posed by a changing climate (see also our webpage on natural catastrophes). And as Europe’s largest institutional investors, (re)insurers can also play a significant role in financing the transition towards more sustainable economies (see our webpage on long-term investment and sustainable finance).
The industry is ready and willing to contribute to the EU’s ambitious green agenda. Measures are needed now to minimise future climate change-related losses and so ensure affordable and sustainable insurance cover in the years to come.